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On August 24, 2026, the U.S. Department of the Treasury announced the launch of the Quantum-Readiness Task Force, a public-private initiative supporting the financial sector's transition to quantum-safe technology. The Task Force advances President Donald J. Trump's Executive Order 14412, which established guidelines to strengthen cryptographic protections for America's sensitive data, critical infrastructure, and digital economy. The Task Force operates through three workstreams: Sector Alignment and Post-Quantum Cryptography (PQC) Transition; Third-Party and Vendor Readiness; and Digital Assets and Emerging Technology Risk. It builds on the G7 Cyber Expert Group roadmap for transitioning to post-quantum cryptography. The initiative brings together government agencies, financial institutions, financial market infrastructures, technology providers, and private-sector leaders to coordinate preparation for quantum-related cyber risks. Treasury Assistant Secretary for Financial Institutions Luke Pettit said the Task Force will ensure the transition to quantum-safe technology is coordinated, risk-based, and operationally resilient. The Task Force addresses a significant long-term cybersecurity challenge: future quantum computing systems could break many cryptographic tools currently protecting financial data, payment systems, digital identities, and market infrastructure. Treasury Secretary Scott Bessent emphasised that "America must lead in securing the technologies that power our economy," noting the Task Force will help ensure the financial system remains strong, secure, and competitive. The Task Force will focus on practical approaches including identifying critical dependencies, improving cryptographic agility, promoting interoperability, strengthening operational resilience, and addressing implementation challenges related to third-party dependencies and digital assets. Transitioning to post-quantum cryptography is essential to protecting U.S. economic security and strengthening financial system resilience.